S.37(1): Business expenditure — Local area expenses and pooja expenses in temples outside factory — Onus on assessee to prove nexus with business – Provision for profit incentive payable to employees -Matter remanded to the Assessing Officer .

S.37(1): Business expenditure -Driver’s salary and fuel and lubricant expenses —Disallowance of fifty Per Cent is restricted to twenty Per Cent. — Conference expenses — Flight booking expenses —Deductible.

S.37(1): Business expenditure — Land levelling charges — Held to be allowable expenditure

S. 36(1)(vii) :Bad debt -Mere write off in the books of account is sufficient compliance – Not required to justify the irrecoverability of the amount from the debtors.

S. 36(1)(vii) :Bad debt – Write off in books of account – Real estate business transaction – Entitle to deduction -Land levelling charges- Allowable as deduction .

S. 35D : Amortisation of preliminary expenses – Capital raised for investment in capital equipment, working capital requirement, general corporate purposes – Expenses for extension of undertaking — Allowable. [ S. 35D(2)(c)(iv)]

S. 32 : Depreciation – Customer relationship rights —Non-compete fees akin to any other business or commercial rights — Depreciation allowable- Cannot take benefit of new claim in reassessment proceedings . [S. 32(1)(ii), 147 ]

S. 14A : Disallowance of expenditure – Exempt income – No Disallowance of expenses relating to dividend received from foreign companies taxable in India and offered to tax – Strategic investments or investments in subsidiary companies or group or associated companies in India or companies promoted by assessee — Includible in disallowance — Disallowance not to exceed exempt income [ R.8D(2)(iii) ]

S. 14A : Disallowance of expenditure – Exempt income – Sufficient interest free funds – No disallowance could be made [ R.8D ]

S. 12A : Registration –Trust or institution- Education – Entitled to Registration [ S.2(15), 12AA ]